System, method and computer readable storage for enabling an instantaneous instrument

ABSTRACT

A method, apparatus, and computer readable storage to implement an issuance of a virtual credit card. The virtual credit card can be issued instantaneously and can thereafter be associated with a physical credit card. The virtual credit card and the physical credit card can be serviced by the same account at the same bank.

BACKGROUND OF THE INVENTION Field of the Invention

The present general inventive concept is directed to a method,apparatus, and computer readable storage medium directed to method,apparatus, and computer readable storage to implement applying for andreceiving an instantaneous virtual card with is then associated with aphysical card.

Description of the Related Art

People in need of a financial account (e.g., credit card, debit card,etc.) can apply electronically and receive an instant decision. However,a user may be limited in what the user can do with the account until aphysical card arrives in the mail.

SUMMARY OF THE INVENTION

It is an aspect of the present invention to provide an improved instantaccount system.

These together with other aspects and advantages which will besubsequently apparent, reside in the details of construction andoperation as more fully hereinafter described and claimed, referencebeing had to the accompanying drawings forming a part hereof, whereinlike numerals refer to like parts throughout.

BRIEF DESCRIPTION OF THE DRAWINGS

Further features and advantages of the present invention, as well as thestructure and operation of various embodiments of the present invention,will become apparent and more readily appreciated from the followingdescription of the preferred embodiments, taken in conjunction with theaccompanying drawings of which:

FIG. 1 is a flowchart illustrating an exemplary method for providing aninstantaneous virtual card and associating it with a physical card,according to an embodiment;

FIG. 2 is a flowchart illustrating an exemplary method of installing avirtual card on a mobile device, according to an embodiment;

FIG. 3 is a drawing of a virtual card on a mobile device, according toan embodiment;

FIG. 4 is a drawing of a credit card statement combining charges fromboth the physical and virtual card, according to an embodiment;

FIG. 5 is a block diagram illustrating participants of the system,according to an embodiment;

FIG. 6 is a block diagram illustrating hardware that can be used toimplement a computer/device which can implement any and all of themethods described herein.

DESCRIPTION OF THE PREFERRED EMBODIMENTS

Reference will now be made in detail to the presently preferredembodiments of the invention, examples of which are illustrated in theaccompanying drawings, wherein like reference numerals refer to likeelements throughout.

The present inventive concept relates to a method, apparatus, andcomputer readable storage medium to implement providing a user with aninstant credit card and thereafter associating the instant credit cardwith a real, physical credit card associated with the same account.

A user (e.g., a consumer) can apply for a virtual card (e.g., a virtualcredit card, virtual debit card, etc.) anywhere (e.g., in line at acheckout counter, at home, using a mobile device at any location, etc.).The virtual card can be used just as if it were a real card (e.g.,physical credit card, debit card, etc.). The only difference is that thevirtual card cannot be swiped since it does not really exist. Instead,the virtual card would have a card number, just as any physical cardnumber would, which can be typed into a computer (or other credit cardprocessor) and used in that manner. The virtual card can be displayed ona personal computing device using an app. A physical card can be mailed(or otherwise delivered) to the user so ultimately the user can useeither the physical card or the virtual card to make transactions.

FIG. 1 is a flowchart illustrating an exemplary method for providing aninstantaneous virtual card and associating it with a physical card,according to an embodiment.

The method can begin with operation 100, in which a user applies for aninstant card. The instant card can be a number of different types ofcards, such as a credit card, a debit card, a stored value card, abitcoin card, or any other such paradigm. Note that as used herein, whenthe card is a credit card then physical card refers to a physical creditcard and virtual card refers to a virtual credit card. When the card isa debit card then physical card refers to a physical debit card andvirtual card refers to virtual debit card. When the card is a storedvalue card then physical card refers to a physical stored value card andvirtual card refers to a virtual stored value card. When the card is abitcoin card, then physical card refers to a physical bitcoin card andvirtual card refers to a virtual bitcoin card. “Card” used by itself canrefer to both a physical and virtual card.

A credit card can be a VISA®, MASTERCARD®, AMERICAN EXPRESS®, DISCOVER®,or a card which can be accepted at millions of locations worldwide. Atransaction with such a card is charged against a credit account ownedby the user to which the user should pay off (either immediately or overtime along with an interest surcharge).

A debit card is a card in which is associated with a bank account andcan also be associated with VISA®, MASTERCARD®, etc., but the moneyactually is debited out of the user's bank account and no credit isused. A processor would process the transaction using the VISA® orMASTERCARD® infrastructure but instead of the amount being furtherprocessed by a credit card the amount is processed by the user's bank(issuer of the debit card) to deduct the respective amount.

A stored value card actually stores any value on the card itselfExamples of stored value cards are transit system fare-cards, cafeteriacards, etc. Since the value is stored on the card itself, there is noneed for a remote server to query in order to check on the value of thecard. Data representing the value on a stored value card would beencrypted and stored on the stored value card. A virtual stored valuecard would store the same data that would be stored on a physical storedvalue card but on a computer memory (e.g., flash memory on a mobilephone) where it can be transmitted to a stored value card reader.

A bitcoin card is a card that operates like a VISA®, MASTERCARD®, etc.,but the funds are paid from a bitcoin account that is funded inbitcoins. Bitcoins are a well-known cryptocurrency. In this manner,charges made by the card are not paid for in dollars but are taken inbitcoins from the user's account (which can be a bit coin wallet). Whena charge is made, the amount bitcoins equivalent to the charge would beautomatically sold in order to fund the charge made.

In operation 100, the application for a card (actually an account whichwill issue a virtual card instantly and a physical card in the nearfuture (such as in 24 hours the physical card can be mailed) can be donein a number of ways. For example, the user can use an internet-connectedhome computer (or personal computing device such as a cell phone,tablet, smart watch, etc.) and apply online (either using the World WideWeb or using an app). The user can also be at a retail establishment andthe cashier can fill out an application for the user (by asking for theuser's application information and entering application information intoa terminal). The application information is information needed toprocess the application and render a decision, which comprises theuser's name, address, social security number, employer, annual salary,etc.

Note that different types of cards may have a different applicationprocess. For example, different types of cards may require differentinformation in the application. A credit card application would requirethe user to enter his/her income, while a debit card application wouldtypically not need this information.

From operation 100, the method proceeds to operation 101, whichprocesses the application by a processing server. The applicationinformation is transmitted to the processing server which retrievesrespective information from one or more databases and evaluates theinformation and renders a decision whether to approve or deny theapplication.

Each different type of card would have a different evaluation process.For example, if the card being applied for is a credit card, then theuser's credit worthiness is evaluated. The processing of the evaluationfor a virtual credit card takes a number of data points and uses aweighted average to determine whether or not to approve the creditapplication. For example, factors such as the user's current salary,current credit score, age, etc., can all be put into a formula whichtakes a weighted average of each factor and then, if the final result isabove a particular threshold, the application is approved otherwise itis denied. Or as another example, if certain factors all meet minimumrequirements, then the application is approved otherwise the applicationis denied. For example, an application must have a credit score of atleast 700 and a current income of at least 50,000 and if both of thesefactors are met then the application is approved, otherwise theapplication is denied. In addition to an approval/denial, the processingserver also determines how much of a credit limit to grant to the user.This can be determined also by a formula. For example, the credit limitcan be $1,000+(current income>30,000)*10% with a cap of $10,000. Inother words, the minimum credit limit that a user can get is $1,000, amaximum credit limit that a user can get is $10,000 and for every dollarin income the user makes in excess of 30,000 (e.g., user's currentincome—30,000) the credit line will be increased by $0.10 (i.e., tencents). So, a user who makes $50,000 will be given a credit line of$1,000+(50,000−30,000)*0.10=$3,000.

If the card being applied for is a debit card, then the processingserver would evaluate whether the user has a valid and funded bankaccount to which the virtual debit card can draw from. If the card beingapplied for is a bitcoin card, then the processing server would evaluatewhether the user has an active bitcoin wallet with a minimum value ofbitcoins (e.g., $5.00).

In operation 102, if the application is denied, then the method proceedsto operation 104, which rejects the application by presenting the playerwith a message that his/her application was denied and then the methodends.

If in operation 102, the application is approved, then the methodproceeds to operation 103, which issues to the player a virtual card(see FIG. 2 and its accompanying description). The user's personalcomputing device (e.g., mobile phone, personal computer, tablet, smartwatch, etc.) would receive the approval from processing server. Theprocessing server would transmit to the user's computing device allinformation needed regarding the new virtual card, including such thingslike the bank name, card number (e.g., credit card number or debit cardnumber), expiration date, CVV number, and any other relevantinformation. An app can be running on the user's computing device whichcan “construct” a virtual card (see FIG. 3 ).

If the virtual card is a virtual credit card, it can now be used like aregular credit card (e.g., it can be a VISA® or MASTERCARD® or othersuch classification). While the virtual card cannot be swiped because itdoes not physically exist, nevertheless the credit card number on thevirtual card can be used for purchases like any other physical card.They can be typed into order forms, credit card machines, etc., alongwith the expiration date (and optionally the CVV number) and thetransaction will be processed as if the virtual card was a normal card.

The virtual credit card can thus be used at many different merchants(e.g., anywhere VISA®/MASTERCARD® is accepted) and is not limited tobeing used at a particular store or chain of stores. Compare this to astore card, for example in which one can go to a merchant Acme Tools andapply for an in-store credit account and can receive an Acme Toolscredit card subsequently in the mail. However, this Acme Tools creditcard can only be used at Acme Tools stores and no other merchant (it isnot a VISA® or MASTERCARD®).

If the card is a virtual debit card, it can be used as if it was anystandard credit card (accepted wherever VISA®, MASTERCARD®, DISCOVER®,etc. are accepted). The user can present the number on the card (or anapp displaying the card) and the card shown can also be used like anycredit card (by typing in the number) but the money for each charge isdeducted from the user's bank account (as opposed to being applied to acredit account as in the case of a credit card).

If the card is a virtual stored value card, then it can be used as if itwas any stored value card. Stored value cards can encrypt information onthe card which designated how much value is on the card. Using an app inplace of a stored value card would work similarly, but the app wouldreceive (e.g., via a communication device such as Bluetooth, etc.)communications from a stored value kiosk which records the data from thekiosk and can transmit such data when the user wishes to present thevirtual stored value card for payment. The app would receive, store, andtransmit, and data that would have been stored on a physical storedvalue card.

If the card is a bitcoin card, then the virtual bitcoin card could beused as any virtual credit card (e.g., by presenting the card numberwhich can be entered into a computer) which functions like a physicalbitcoin card (in which the funds are taken from the user's bitcoinwallet).

From operation 103, the method proceeds to operation 105, which issues aphysical card to the user. The physical card will have printed on it thesame information as the virtual card (e.g., number, name, expirationdate, CVV number, etc.) and can be mailed to the user. The physical cardcan look identical in appearance to how the virtual card would bedisplayed on the personal computing device.

From operation 105, the method proceeds to operation 106, whichassociates the virtual card to the physical card. The user can activatethe physical card in numerous ways, such as calling a number to confirmthe card was received, going to a web site and answering securityquestions, etc. The account that maintains the virtual card will beupdated to reflect that the physical card was mailed to the user andactivated. Thus, the virtual card and the physical card will both belinked to the same account. Whether the virtual card or the physicalcard is used would not matter as the debits would be processed by thesame account. Only one statement would be mailed (or transmittedelectronically) to the user which would contain transactions from boththe physical card and the virtual card.

Thus, the virtual version of the physical card will have the samefunctionality of the physical card (with the exception that the virtualcard cannot be swiped) and the virtual and physical cards can be usedinterchangeably with no difference in effect.

FIG. 2 is a flowchart illustrating an exemplary method of installing avirtual card on a mobile device, according to an embodiment. This isperformed during operation 103 in FIG. 1 .

In operation 200, an app that is running on a user's personal computingdevice is downloaded. This app allows the receiving of encryptedinformation from the processing server and enables the virtual card tobe displayed on the computing device (see FIG. 3 ).

In operation 201, the processing server will utilize the applicationinformation received from the user (e.g., the user's name, address,social security number, etc.) to generate a new record for a new virtualcard.

From operation 201, the method proceeds to operation 202, wherein theprocessing server will generate a new and unique card number. This isthe number that is used when a charge is made to identify the card andis printed on physical cards themselves. For example, in the case of acredit card, the unique card number is the credit card number that istypically printed on the face of the physical credit card (and alsodisplayed on the virtual credit card as well). The processing server canalso generate a CVV code (a three-digit code which can be requiredduring a transaction as an extra level of security), an expiration date,and any other data which is needed to generate a new physical card.Different types of cards would require different types of attributes(for example, a stored value card may not need a CVV code).

From operation 202, the method proceeds to operation 203, whichtransmits the unique card number generated in operation 202 to the apprunning on the mobile device. The app can then use this information andgenerate an image of the virtual card on the mobile device (See FIG. 3).

FIG. 3 is a drawing of a virtual card on a mobile device, according toan embodiment.

A personal computing device 300 (in this case a tablet) is running anapp which displays an image of a virtual credit card. The image willlook like a standard credit card, complete with bank logo, credit cardnumber, expiration date, etc. While FIG. 3 shows an example of a virtualcredit card, the other types of cards (e.g., debit card, stored valuecard, bitcoin card, etc.) would be displayed and utilized similarly.While FIG. 3 displays a virtual credit card, a virtual debit card,virtual stored value card, virtual bitcoin card would be displayedsimilarly (showing any information that the respective type of cardwould have on its face).

The app can mimic a chip card (or EMV card) and handle allcommunications that a chip card would process, using input/outputprotocols such as Bluetooth, Wi-Fi, RFID, etc. A chip card encryptsinformation and transmits it to the terminal and vice versa, thusverifying the authenticity of the chip card and also maintaining theprivacy of the card number (e.g., credit card number for a credit card,debit card number for a debit card, etc.). The app running on thepersonal computing device can implement the virtual card which can workwith these terminals in the same manner that the physical card wouldhandle such a transaction (assuming the terminal has a sufficient methodof communications (e.g., Wi-Fi, RFID, Bluetooth, tee.) to communicatewith the app running on the personal computing device since of coursethe personal computing device cannot be inserted into the terminal aswould a standard physical chip card.

FIG. 4 is a drawing of a credit card statement combining charges fromboth the physical and virtual credit card, according to an embodiment.The statement can be printed on paper or electronically displayed on anelectronic output device. Note that while FIG. 4 illustrates a creditcard account (utilizing a virtual card and a physical card), such astatement can be generated for any other type of card (e.g., debit card,stored value card, bitcoin card, etc.) with the transactions from boththe virtual and physical cards merged.

Note that the example statement 401 looks like a standard credit cardstatement, with the only difference being the last column shows whetherthe charge shown was incurred via the virtual card or the physical card.When the physical card is presented to a merchant then it would belabeled as “physical” while when a purchase is made using the app orjust by utilizing the credit card number (e.g., ordering online) then itwould be labeled as “virtual.”

FIG. 5 is a block diagram illustrating participants of the system,according to an embodiment.

Processing server 500 is used to receive new card applications (seeoperation 101) and process them by evaluating the information in theapplication and determining whether the applicant is a good risk (inwhich the application is accepted) or an unworthy risk (in which theapplication is rejected). The decision is typically determined andcommunicated to the applicant (and other involved parties) by theprocessing server 500 instantaneously. Point of sale terminal 501 iswhere a user can make an application for a virtual card (see operation100). Point of sale terminal 501 is also where the user can use hisphysical credit card and/or his/her virtual card. Remote users 503, 504can also apply for the virtual card remotely (as opposed to in person ata point of sale terminal 501) on their personal computing device (theapplication of which is then transmitted to the processing server 500).Authorization server 502 is a server which receives card authorizationrequests and either approves or declines them based on whether the cardnumber used is valid and there are adequate funds left on that card.When a user makes a purchase using their card (e.g., credit card),whether it be physical or virtual, at a point of sale terminal 501 oronline (e.g., a purchase from AMAZON.COM®) an authorization request istransmitted to the authorization server 502 (there can be many suchservers operating simultaneously) to approve or deny such request. Ifthe authorization request is denied, then any transaction contingentupon such approval will not be processed. If the authorization requestis approved, then the transaction can be completed. The remote users503, 504 will also receive their statements (e.g., monthly) from a bankserver 505 which administers the card account. When the authorizationserver 502 is queried whether to approve a transaction or not it mayhave to be routed to the bank server 505 which would then make the finaldetermination of whether the credit authorization (which includes anamount of the requested purchase) should be approved or not. The bankserver 505 may have access to information that the authorization server502 may not, such as the value of bank accounts or how much credit isleft on a credit account.

In the case of a credit card, an authorization would be approved if theaccount associated with the credit card is in good standing (not pastdue) and the available credit on the credit card account is greater (orgreater than equal) to the amount of the requested purchase, otherwisethe authorization request would be denied. In the case of a debit card,an authorization would be approved if the account associated with thedebit card is in good standing and has sufficient funds to cover thepurchase amount (embedded in the authorization request). In the case ofa stored value card, typically the authorization server 502 would not berequired as a stored value card would not need to be authorized by anoutside entity. In the case of a bitcoin card, the authorization requestwould be approved if the dollar value of the bitcoins in the associatedbitcoin wallet is greater than or equal to the amount of theauthorization request.

FIG. 6 is a block diagram illustrating hardware that can be used toimplement a computer/device which can implement any and all of themethods described herein. The computer can be the platform, any server,personal computing device, cell phones, or any electronic device used aspart of the system. Any and all of the methods described herein can beinstalled as software on the device.

A processing unit 600 (such as a microprocessor and any associatedcomponents) is connected to an output device 601 (such as an LCDmonitor, touch screen, CRT, etc.) which is used to display to the userany aspect of all methods described herein (including any valuesdescribed herein), and an input device 602 (e.g., buttons, a touchscreen, a keyboard, mouse, etc.) which can be used to input from theuser any input needed by any feature described herein. All methods andfeatures described herein can be performed by the processing unit 600 byloading and executing respective instructions. The processing unit 600can also be connected to a network connection 603, which can connect theprocessing unit 600 to a computer communications network such as theInternet, a LAN, WAN, etc. and transmit/receive all data (whetherdescribed herein or not). The processing unit 600 is also connected to aRAM 604 and a ROM 605. The processing unit 600 is also connected to astorage device 606 which can be a DVD-drive, CD-ROM, flash memory, etc.Multiple such processing units can also work in collaboration with eachother (in a same or different physical location). A non-transitorycomputer readable storage medium 607 can store a program which cancontrol the electronic device to perform any of the methods describedherein and can be read by the storage device 606.

While one processing unit (or device/computer) is shown, it can beappreciated that one or more such processor/computer can work together(either in a same physical location or in different locations) tocombine to implement any of the methods described herein. Programsand/or data required to implement any of the methods/features describedherein can all be stored on any non-transitory computer readable storagemedium (volatile or non-volatile, such as CD-ROM, RAM, ROM, EPROM,microprocessor cache, etc.) which can then be executed by one or moreprocessing units.

All components of the system (e.g., platform, servers, computers,databases, etc.) can communicate with each other using a computercommunication network (e.g., the internet) in order to exchange data asneeded by the method.

Any description of a component or embodiment herein also includeshardware, software, and configurations which already exist in the priorart and may be necessary to the operation of such component(s) orembodiment(s).

Further, the operations described herein can be performed in anysensible order. Any operations not required for proper operation can beoptional. Further, all methods described herein can also be stored on a(non-transitory) computer readable storage medium to control a computer.Programs and/or data required to implement any of the methods/featuresdescribed herein can all be stored (and executed therefrom to performany of the methods/features) on any non-transitory computer readablestorage medium (volatile or non-volatile, such as CD-ROM, RAM, ROM,EPROM, microprocessor cache, etc.).

The many features and advantages of the invention are apparent from thedetailed specification and, thus, it is intended by the appended claimsto cover all such features and advantages of the invention that fallwithin the true spirit and scope of the invention. Further, sincenumerous modifications and changes will readily occur to those skilledin the art, it is not desired to limit the invention to the exactconstruction and operation illustrated and described, and accordinglyall suitable modifications and equivalents may be resorted to, fallingwithin the scope of the invention.

What is claimed is:
 1. A computer implemented method, the methodcomprising: performing on one or more electronic processors, thefollowing operations: receiving a request to open a virtual chip cardfor a user; approving the request for the virtual chip card; generatinga card number for the virtual chip card which is associated with anaccount of a user; transmitting the card number for the virtual chipcard to a personal computing device operated by the user and causing thevirtual chip card to be installed on the personal computing device;causing display of an image of the virtual chip card on a display screenof the personal computing device, wherein the image comprises a name ofthe user, the card number for the virtual chip card, and an expirationdate assigned to the virtual chip card; enabling the user to make apurchase using the virtual chip card, wherein the enabling comprisesrunning software installed on the personal computing device whichconfigures the virtual chip card installed on the personal computingdevice to perform an authentication process; generating data used togenerate a physical card that corresponds to the virtual card and isassociated with the account, wherein the generating the data used togenerate the physical card comprises generating an appearance of thephysical card based on an appearance of the virtual chip card displayedon the display screen of the personal computing device; issuing thephysical card and enabling the user to make a purchase using thephysical card; and generating a statement for the account and indicatingwhether a charge was incurred using the virtual chip card or thephysical card.
 2. The method as recited in claim 1, wherein both thevirtual chip card and the physical card are a stored value card.
 3. Themethod as recited in claim 1, further comprising enabling the user toutilize the virtual chip card at a point of sale terminal to make thepurchase.
 4. The method as recited in claim 3, wherein the installedsoftware running on the personal computing device communicates with thepoint-of-sale terminal to authenticate the virtual chip card.
 5. Themethod as recited in claim 4, further comprising using near fieldcommunication when the installed software running on the personalcomputing device communicates with the point of sale terminal.
 6. Anapparatus, comprising: one or more servers; a network connectionconnected to the one or more servers enabling communication to theinternet; the one or more servers comprising one or more electronicprocessing units, the one or more electronic processing units connectedto at least one computer readable storage medium, the at least onecomputer readable storage medium storing instructions that whenexecuted, cause the one or more servers to: receive a request to open avirtual chip card for a user; approve the request for the virtual chipcard; generate a card number for the virtual chip card which isassociated with an account of the user; transmit the card number for thevirtual chip card to a personal computing device operated by the userand cause the virtual chip card to be installed on the personalcomputing device; cause a display of an image of the virtual chip cardon a display screen of the personal computing device, wherein the imagecomprises a name of the user, the card number for the virtual chip card,and an expiration date assigned to the virtual chip card; enable theuser to make a purchase using the virtual chip card, wherein theprocessor is configured to run software installed on the personalcomputing device which configures the virtual chip card installed on thepersonal computing device to perform an authentication process; generatedata used to generate a physical card that corresponds to the virtualcard and which is also associated with the account of the user, whereinthe generating the data used to generate the physical card comprisesgenerating an appearance of the physical card based on an appearance ofthe virtual chip card displayed on the display screen of the personalcomputing device; issue the physical card and enable the user to make apurchase using the physical card; generate a statement for the accountand indicating whether a charge was incurred using the virtual chip cardor the physical card.
 7. The apparatus as recited in claim 6, whereinthe computer readable instructions are further programmed such that boththe virtual chip card and the physical card are a stored value card. 8.The apparatus as recited in claim 6, wherein the computer readableinstructions are further programmed to enable the user to utilize thevirtual chip card at a point of sale terminal to make the purchase. 9.The apparatus as recited in claim 8, wherein the computer readableinstructions are further programmed to cause the software installedrunning on the personal computing device to be programmed to communicatewith the point-of-sale terminal to authenticate the virtual chip card.10. The apparatus as recited in claim 9, wherein the computer readableinstructions are further programmed to use near field communication whenthe installed software running on the personal computing devicecommunicates with the point of sale terminal.
 11. The apparatus asrecited in claim 6, wherein the computer readable instructions arefurther programmed to generate a CVV number for the virtual chip card.12. A method comprising: transmitting a card number to a personalcomputing device operated by a user; causing a virtual chip cardassigned to the card number to be installed on the personal computingdevice; causing display of an image of the virtual chip card on adisplay screen of the personal computing device wherein the imagecomprises a name of the user, the card number for the virtual chip card,and an expiration date assigned to the virtual chip card; enabling theuser to make a purchase using the virtual chip card, wherein theenabling comprises running software installed on the personal computingdevice which configures the virtual chip card installed on the personalcomputing device to perform an authentication process; generating dataused to generate a physical card that corresponds to the virtual cardand is associated with the account, wherein the generating the data usedto generate the physical card comprises generating an appearance of thephysical card based on an appearance of the virtual chip card displayedon the display screen of the personal computing device; issuing thephysical card and enabling the user to make a purchase using thephysical card; and collecting transactions submitted by the virtual chipcard and the physical card over a period of time; and generating astatement for the user over the period of time which includesinformation about the transactions and indicator values indicatingwhether the transactions were submitted from the virtual chip card orthe physical card.
 13. The method as recited in claim 12, wherein boththe virtual chip card and the physical card are a stored value card. 14.The method as recited in claim 12, further comprising enabling the userto utilize the virtual chip card at a point-of-sale terminal to make thepurchase.
 15. The method as recited in claim 14, wherein the installedsoftware running on the personal computing devices communicates with thepoint-of-sale terminal to authenticate the virtual chip card.
 16. Themethod as recited in claim 15, further comprising using near fieldcommunication when the installed software running on the personalcomputing device communicates with the point of sale terminal.
 17. Themethod as recited in claim 12, wherein the method further comprisesgenerating a CVV number for the virtual chip card.